Octane Capital lowers large loan rates after 2020 risk review
Posted on Jan 21, 2020 | in Press Releases
‘Product-less’ lender, Octane Capital, today announced it has reduced its risk rating given the improved outlook for the UK property market and broader political stability following the December General Election result.
As a result, and with immediate effect, the lender will be lowering rates on its larger bridging, developer exit and refurbishment loans by as much as 2% per annum.
Mark Posniak, Managing Director, Octane Capital, commented:
“Like other lenders, we regularly review the macro-economic outlook and felt especially compelled to do so in the New Year following the decisive General Election result. Our in-house view is that a new environment of greater political certainty will see a lot of pent-up demand for property come through, with subsequent upward pressure on prices. We also believe that the Bank of England will counter any continued economic weakness with monetary easing, providing a further boost to the property market through lower borrowing rates.”
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